Show t The Sisklyon One arload came in The Htehland One hundred tons came in The Brooklyn Two hundred and fifty tons came from the Brooklyn From Ophir The Monarch A shipment came In V The Bic De Lamar Deal The contract for the sale of an interest in the De Lamar property being now a matter of record tho Avalanche is prepared to give its readers a correct synopsis of toe terms and conditions of the biggest deal made in I Idaho mining properly for a long time past Told as briefly as practicable the contract is as follows Captain DeLamar turns over his entire property consisting of all his mining claims mill mill site water rights ore on hand and not in transit on day of transfer all buildings timbers and supplies on hand ou the 14th day of May 18Jl to the promoters pro-moters of an English stock company tho transfer t be made on the 1ith day of May at a nominal price of 2000000 in consideration of which OOOOl ers agree to pay him not less than 500000 or more than 750000 in cash for tneir interest and to stock the mine in Great Britain at 2500000 400 OUt working capital Of this 400000 work ing capital c230OGO is to be paid in cash by i the promoters and the balance 150000 in stock subscriptions at par value Then Captain Do Lamar is to receive balance of amount to be paid him iu stock at cost value sufficient to make his total payments 1700000 But by paying Captain DoLamar 510000 within thirty days from date of contract the promoters have the privilege of contrart fixing I the capital stock ut only 53000000 and the working capital at 225000 in which event 1 175000 must be paid into the treasury In i I cash and the balance of 50000 raised from stock subscriptions DeLamar still reedy I ing the same amounts in cash and the same amount in stock at cost as in the first named proposition I Either of the above propositions boiled down means that the promoters purchase at the rate of 2000000 for the whole either onefourth threeeighths of the property Captain DeLamar still retaining the larger interest and control and receiving in cash either 503009 or 750000 in cash according towhicn proposition tho promoters maj mlY choose to take The contract is signed by Henry Brat enober of Helena Montana for the purchasers pur-chasers and we are informed that the Eng gUsh capitalists investing are the samo who broughtjout the Elkhorn mine of Montana i in London the stock of which is now 75 per cent above par I is understood that the English capital Englsh ists interested in this deal propose to take all the stock not going to Do Lamar themselves them-selves and that it will not be put on the market at par As tho mines with their present mill and the ore shipped are now netting more than 600000 per year or about 23 per cent on a capital stock of two and a half million dollars the stock will run far enough above par at once to largely increase the value of the entire property With tho S400OCO treasury stock put in anew a-new and larger mill and in running the lower tunnel which will cut the lodes some six hundred feet lower than now worked mining expenses can be materially re duced and the milling capacity so largely increased that the present net production will be but a small matter compared with that of tho future and the stock will wi runaway run-away up in value We know that this is the view of it taken by Captain De Lamar and the reason of his refusal to part with a lancer interest By the sale of a minor portion of the property what is generally considered here a mere nominal figure he relieves himself of a large part of the responsibility re-sponsibility of tho management secures capital from others to make the needed improvements I im-provements has the assurance that the mines will be worked on a much more ex tensive plan and their output correspond ingly enlarged while he is made independent independ-ent with the time and means to embark in other enterprise with his stock in the company still in his hands largely increased in value With his energy and business qualities we are more than grati fied to know that ho will remain in Idaho ho believing that this state is an open field for largo and profitable enterprises Min m j ing he has found to bo his forte and he j I will be dipping into some big scheme be r fore long Idaho Avalanche I |